Hydrodesulfurization Catalyst Market

Hydrodesulfurization Catalyst Market Snapshot (2022 to 2032)

Global Hydrodesulfurization Catalyst demand is anticipated to be valued at USD 2.89 Billion in 2022, forecast to grow at a CAGR of 5% to be valued at USD 4.71 Billion from 2022 to 2032.

The Hydrodesulfurization Catalyst enables the hydrotreating process in petroleum refineries and natural gas processing plants. Using the Hydrodesulfurization Catalyst, the hydrotreating process removes excess sulfur from the petroleum refining by-products.

Report Attribute	Details
Estimated Base Year Value (2021)	USD 2.76 Billion
Expected Market Value (2022)	USD 2.89 Billion
Anticipated Forecast Value (2032)	USD 4.71 Billion
Projected Growth Rate (2022 to 2032)	5% CAGR

Traditionally, the market is driven by growing regulatory norms pertaining to the application of low-sulfur fuels in the major regions of the world. Furthermore, there has been a major shift in the market demand for desulphurization catalysts owing to a positive move towards ultra-low sulfur (ULS) marine fuels, heating oils, and jet fuels.

Germany is considered to be a highly lucrative market for Hydrodesulfurization Catalyst, driven primarily by huge investments made by the refiners in order to upgrade and expand their units with advanced equipment and technologies. Furthermore, German manufacturers are focusing on producing cleaner automotive fuels while meeting the new sulfur emission regulations, such as Euro 4, Euro 5, and Euro 6 specifications and IMO 2020 mandate.

Catalysts used for the removal of sulfur are hydrodesulfurization catalysts. Ruthenium disulfide (RuS2) appears to be the single most active catalyst, but binary combinations of cobalt and molybdenum are also highly active. In practice, most HDS units in petroleum refineries use catalysts based on cobalt-modified molybdenum disulfide (MoS2) together with smaller amounts of other metals.

Which are Some Prominent Drivers Spearheading Hydrodesulfurization Catalyst Market Growth?

Hydrodesulfurization Catalyst is of critical importance in the catalysis-dependent process of hydrodesulfurization. Hydrodesulfurization Catalyst helps carry out the process of hydrodesulfurization effectively, thus helping meet regulatory specifications and environmental norms applicable to refined petroleum products.

The removal of sulfur enabled by the Hydrodesulfurization Catalyst also prevents poisoning of the catalysts used in refinery processes further down the line after hydrodesulfurization. The market for Hydrodesulfurization Catalysts will witness growing demand in direct proportion to the increasing need for hydrodesulfurization (HDS) process for the production of low-sulfur petroleum fuel and other refined products, in view of existing and impending regulatory mandates.

Governments and regulatory bodies, such as the European Union and the International Maritime Organization (IMO), have laid down stringent low-sulfur content regulations for petroleum fuels, especially those used in the marine industry.

The IMO sulfur content cap to be applicable from January 2020 onwards has accelerated the need for sulfur removal capacity in refineries, thereby creating new opportunities for the Hydrodesulfurization Catalyst market. Thus, the market for Hydrodesulfurization catalysts will continue to be driven primarily by demand from the refinery industries.

What are the Challenges Faced by the Hydrodesulfurization Catalyst Industry?

With the unprecedented outbreak of COVID-19, most of the manufacturing sites and factories had to shut down. This led to a significant decline in the demand for oil. Furthermore, a number of plants started running at reduced rates, hindering the market demand for hydrodesulfurization catalysts. This is the case with major economies of the world, especially in the USA, China, Italy, France, Germany, the United Kingdom, and India, which are some of the worst-hit economies.

The plunge in the demand for oil along with the dropping oil prices and investments in the sector are likely to leave the industry position crucial. The aforementioned pointers, in turn, will severely impact the market growth.

Why is Asia-Pacific Emerging as an Opportunistic Hydrodesulfurization Catalyst Market?

The recent implementation of the International Maritime Organization (IMO) 2020 mandate worldwide aiming to reduce sulfur emissions from ocean vessels by 80% is expected to create significant growth opportunities for the market in Asia Pacific. Asia Pacific is projected to be a significant market for Hydrodesulfurization Catalyst and the trend is expected to continue into the forecast period owing to rapid demand in this region.

The growing demand for refined petroleum products from the fast-growing economies of the region will be a key driver of demand for the Hydrodesulfurization Catalyst market in the Asia Pacific. According to the Oxford Institute for Energy Studies, China is expected to produce over 18 million tons of very low-sulfur fuel oil (VLSFO) by 2020 and increase it to 30 million tons by 2023.

How is North America Contributing to Growth of the Hydrodesulfurization Catalyst Market?

According to Future Market Insights, North America is the largest regional market for hydrodesulfurization catalysts, accounting for a revenue share of 32%. The market is driven by stringent regulations and restrictions related to the harmful effects of sulfur dioxide on human health and the environment.

According to the norms laid by the USA EPA, ultra-low sulfur diesel with a maximum of 15 ppm sulfur content is mandatory for all locomotives and marine vessels in the USA In addition to this, the refineries operating in the USA are projected to further boost the sales of hydrodesulfurization catalysts in the North American market.

Market Competition

Some of the key participants present in the global Hydrodesulfurization Catalyst market include Albemarle Corporation; Advanced Refining Technologies; Sinopec Corp.; Haldor Topsoe A/S; Royal Dutch Shell PLC; PetroChina Company Limited (CNPC); Axens SA; JGC C&C; Honeywell International Inc.; and Johnson Matthey Plc among others. Attributed to the presence of such a high number of participants, the market is highly competitive.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 5% from 2022 to 2032
Market Value in 2022	USD 2.89 Billion
Market Value in 2032	USD 4.71 Billion
Base Year for Estimation	2021
Historical Data	2017 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Type, Feedstock, End-Use, Region
Regions Covered	North America; Latin America; Europe; Asia Pacific; Middle East and Africa
Key Countries Profiled	USA, Canada, Brazil, Argentina, Peru, Chile, Germany, United Kingdom, France, Spain, Italy, Russia, BENELUX, China, Japan, South Korea, GCC Countries, South Africa, Turkey
Key Companies Profiled	Haldor Topsoe A/S; Honeywell UOP; W.R. Grace and Company; Albemarle Corporation; Johnson Matthey PLC; Axens S.A; Redkino Catalyst Company; Criterion Catalysts & Technologies
Customization	Available Upon Request

Key Segments Profiled in the Hydrodesulfurization Catalyst Industry Survey

By Type:

• Cobalt-Molybdenum
• Nickel-Based
• Other

By Feedstock:

• Natural Gas-based
• Naphtha-based
• Heavy Oil-based
• Diesel Oil-based
• Kerosene-based

By End Use Industry:

• Petrochemicals
• Natural Gas Processing

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Frequently Asked Questions

What is the anticipated growth of the Hydrodesulfurization Catalyst market until 2032?

FMI projects the global Hydrodesulfurization Catalyst market to expand at a 5% value CAGR by 2032

Which region is forecast to be the most lucrative for Hydrodesulfurization Catalyst market growth?

North America is expected to be the most opportunistic Hydrodesulfurization Catalyst market, accounting for a market share of 32%.

Which are some prominent Hydrodesulfurization Catalyst manufacturers?

JGC C&C; Honeywell International Inc.; and Johnson Matthey Plc are some prominent Hydrodesulfurization Catalyst manufacturers.